BHUBANESWAR: Housing and urban development department issued a crucial clarification regarding the Odisha Apartment Ownership and Management (OAOM) Act-2023, addressing concerns about apartment registration processes in the state.
In a notification released on Saturday, the department confirmed that apartments completed before Feb 25, 2017, remain eligible for registration under the current Act. The department sought assistance from the revenue and disaster management department to facilitate registrations.
The clarification comes amid reports of apartment owners facing difficulties in registering sale and transfer deeds due to perceived ambiguities in the Act’s application. “Registration authorities shall not deny the registration of any apartment citing provisions of the OAOM Act if the apartment was completed before the commencement of RERA in the state,” the notification stated.
Housing and urban development minister Krushna Chandra Mahapatra announced the appointment of seven senior officers to expedite the resolution of approximately 700 pending appeals related to the Odisha Development Authority 1982 in BDA and BMC areas.
In a significant development, Mahapatra also unveiled an Urban Challenge Fund worth Rs 1 lakh crore. The initiative aims to transform cities into development hubs through creative redevelopment projects.
The fund will provide up to 25% financial assistance for bankable projects, with a proposed allocation of Rs 10,000 crore for 2025-26. Remaining project costs will be covered through bonds, bank loans, and public-private partnerships, requiring at least 50% funding through these channels.
